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Shelby co-sponsors bill to repeal Death Tax

Sen. Richard Shelby
WASHINGTON – On Wednesday, South Dakota Republican Sen. John Thune, chairman of the Senate Republican Conference and member of the Senate Finance Committee, and Republican Texas Rep. Kevin Brady, chairman of the Joint Economic Committee and a senior member of the House Ways and Means Committee, re-introduced legislation to permanently repeal the federal estate tax, also known as the death tax.

In addition to Thune, among the bill’s 28 co-sponsors in the U.S. Senate is Sen. Richard Shelby, R-Tuscaloosa, who has been a long-time advocate of repealing the tax.

“I have always supported a full repeal of the death tax,” Shelby told Yellowhammer. “Taxpayers should not be subject to an exorbitant tax when they seek to pass their earnings onto their family and loved ones. This is simply unfair.”

The legislation, called the Death Tax Repeal Act of 2013 (S. 1183, H.R. 2429), is “nearly identical” to the bill introduced in the last Congress and garnered the bi-partisan support of 223 members of the House of Representatives and 38 of the Senate.

The bill had won the support of numerous trade and lobbying organization in Washington including American Farm Bureau Federation, Associated Builders and Contractors, National Association of Manufacturers, National Federation of Independent Business, 60 Plus Association, Americans for Tax Reform, Club for Growth, National Black Chamber of Commerce, International Franchise Association, National Taxpayers Union, American Conservative Union and Family Business Coalition.

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